In Selgin's Discretion, or a Rule, we discussed the different possible monetary arrangements. Answer the following questions:
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In Selgin's "Discretion, or a Rule", we discussed the different possible monetary arrangements.
Answer the following questions:
Are strict rules always preferred to discretion? Explain why or why not
In discretion, we have the problem of "limited knowledge." What is this and why does it matter?
We discussed three possible rules:
1) Friedman's "k-percent" rule,
2) "Taylor rule,"
3) Stable spending rule.
Describe one.
Related Book For
Managerial Accounting An Introduction to Concepts Methods and Uses
ISBN: 978-0324639766
10th Edition
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
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